Section 7428 - Disbursement of FundsThe following procedure shall govern disbursement of funds to local entities.
(a) Funds for loans will be disbursed to, or on behalf of, the local entity as the need for funds arises in a manner determined by the Department. Such disbursements may include advance payments on the total approved loan fund commitment and payments thereafter as needed to facilitate effective administration of the program by local entities.(b) The Department shall disburse administrative grant funds to local entities on a quarterly basis or on a loan-by-loan basis, at the discretion of the Department.(c) The local entity must request disbursements of funds in writing at least twenty days before receipt is required.Cal. Code Regs. Tit. 25, § 7428
1. Amendment filed 10-2-81; effective thirtieth day thereafter (Register 81, No. 40). Note: Authority cited: Section 50662, Health and Safety Code. Reference: Sections 50661, 50662 and 50663, Health and Safety Code.
1. Amendment filed 10-2-81; effective thirtieth day thereafter (Register 81, No. 40).